Raymond James & Associates Sells 9,910 Shares of IAC Inc. (NASDAQ:IAC)

Raymond James & Associates lessened its holdings in IAC Inc. (NASDAQ:IAC) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,207 shares of the company’s stock after selling 9,910 shares during the quarter. Raymond James & Associates owned 0.06% of IAC worth $2,525,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Moneta Group Investment Advisors LLC grew its stake in IAC by 113,402.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,552,095 shares of the company’s stock worth $646,113,000 after buying an additional 14,539,274 shares in the last quarter. Vanguard Group Inc. grew its stake in IAC by 1.5% during the third quarter. Vanguard Group Inc. now owns 7,342,693 shares of the company’s stock worth $406,639,000 after buying an additional 109,526 shares in the last quarter. BlackRock Inc. grew its stake in IAC by 2.6% during the first quarter. BlackRock Inc. now owns 4,034,335 shares of the company’s stock worth $404,563,000 after buying an additional 101,945 shares in the last quarter. Davis Selected Advisers grew its stake in IAC by 16.9% during the third quarter. Davis Selected Advisers now owns 2,960,918 shares of the company’s stock worth $149,201,000 after buying an additional 428,065 shares in the last quarter. Finally, FMR LLC grew its stake in IAC by 6.8% during the third quarter. FMR LLC now owns 1,470,853 shares of the company’s stock worth $74,116,000 after buying an additional 93,467 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Stock Down 0.6 %

Shares of NASDAQ IAC opened at $47.90 on Tuesday. The company has a 50 day simple moving average of $53.05 and a 200 day simple moving average of $50.32. The firm has a market cap of $3.83 billion, a PE ratio of 19.31 and a beta of 1.32. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, research analysts forecast that IAC Inc. will post -1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IAC shares. Truist Financial increased their price objective on shares of IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Barclays raised their price target on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. UBS Group raised their price target on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, KeyCorp raised their price target on shares of IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.69.

About IAC

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.